Real Estate

Opendoor shares soar on optimism of gains in iBuying after Zillow exit


OpenDoor is disrupting the real estate market with its new model. It buys homes and sells them on its platform.


Zillow’s abrupt exit from the home-buying market is leading investors to see an opening for Opendoor.

A day after Zillow’s stock fell to a 16-month low, Opendoor shares soared as much as 19%. The San Francisco-based company, which went public late last year through a special purpose acquisition company, pioneered the instant-buying (or iBuying) market, allowing homeowners to sell their property online for cash, rather than going through an extended bidding, sales and closing process.

Opendoor is scheduled to report third-quarter earnings next Wednesday, so investors will…


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